Looking for ez qualifing homes to purchase - Posted by Peter CA

Real Estate Investing Single-Family Homes
1

Posted by jimi on June 08, 2011 at 13:38:20:

EDwin -

I don’t believe Marko was suggesting to only have one tool in your toolbox. If the deal is over-encumbered and does not make investment sense, move on. There are plenty of scenarios when there is equity but the seller needs payment relief, fast! Many people don’t have the means to make payments on two houses, so the offer of payment relief NOW trumps positive proceeds from a sale six months down the road.

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Looking for ez qualifing homes to purchase - Posted by Peter CA

Posted by Peter CA on June 06, 2011 at 03:28:20:

I am looking to buy anything with 3 bedrooms and over
900 SF
under $150,000 in So. Cal. I have downpayment money
but no
credit. Can you refer me to a good site for rent to own
or
owner will carry properties? Also, what is the best
way to
find interested sellers? I’m looking in the I.E.
Riverside,
Mo. Valley, San Bernardino, Colton, Fontana,
Bloomington, etc.

I prefer SFR with 1 or 2 car garage, trying to avoid
condos

Thanks all.

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Re: Looking for ez qualifing homes to purchase - Posted by Marko Rubel

Posted by Marko Rubel on June 06, 2011 at 12:38:28:

Peter,

The best deal you will get is if you buy directly from a
homeowner, not from an investor.

Since you’re already on this site, I’d suggest you read as many
“how to” articles as you can, and start calling “for rent” ads in
your local paper to find properties you can Lease Option.

You could also start with other marketing techniques like
bandit signs or postcards, but I suggest first calling because it
doesn’t cost you much.

You’ll find out that you could get a lot of houses with $0 down,
just take over payments.

Best,
Marko

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Re: Looking for ez qualifing homes to purchase - Posted by EDwin

Posted by EDwin on June 08, 2011 at 01:05:26:

Marko what you said might be true, but I best most of those houses you can take over with $0 down and just take over the payments are over-encumbered. How is Peter going to make a profit in such a deal? I am not impressed with advice to take over someone else’s problem that doesn’t explain how that will benefit the investor.